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How to put 100% HML into BRRRR calculator (purchase AND rehab)
Caveat, I'm very new to this, so please forgive me if this question is confusing.
I am working the BRRRR calculator and am talking to hard money lender about a loan for the full purchase AND rehab costs. But the report seems to require separate entries for these. I enter 0% down in the loan and the 10% interest, with points and other closing costs. And I enter in the rehab costs separately. And the report looks the way I expect, bundling my rehab costs and loan fees as the amount due at closing, But I'm concerned the interest calculation doesn't represent the combined costs. However, if I add the rehab costs into the loan amount AND also as the rehab costs, that definitely doesn't make sense.
However, when I enter the loan and rehab costs separately, the total cash invested actually does reflect my expectations, so maybe I'm doing this right and I just don't yet understand it.
Can someone help me decipher the BRRRR report vis a vis this situation? THANKS!